Summary
The Securities and Exchange Commission (SEC) announced that its X account was accessed by an unauthorized party, clarifying that the earlier announcement of spot bitcoin ETF approval was false. The SEC will be collaborating with law enforcement to investigate the unauthorized access and any related misconduct. The false announcement temporarily caused a surge in crypto markets. Senators Bill Hagerty and Cynthia Lummis called for transparency regarding the incident.
Key Points
1. The Securities and Exchange Commission (SEC) announced the false approval of spot bitcoin ETFs before clarifying that its account had been accessed by an unauthorized party.
2. The SEC stated that there was unauthorized access to its X account by an unknown party for a brief period of time and that the access has been terminated. The agency will be working with law enforcement and government partners to investigate the matter and determine appropriate actions.
3. The false announcement caused temporary market excitement, but SEC Chair Gary Gensler clarified that the agency has not approved the listing and trading of spot bitcoin exchange-traded products. The decision on the ETFs is expected to be announced on the deadline set by Ark 21Shares.